• Sportingbet to Move Online Gambling Operation to Channel Islands

    28 March 2007

    Newspaper

    Ledger-Enquirer
    Wed, Mar. 28, 2007
    Associated Press

    LONDON – Online gambling company Sportingbet PLC, forced to quit the U.S. after lawmakers effectively made the business illegal, said Wednesday it will transfer the group’s operations to the Channel Islands.

    The company said it is making the move offshore because there remains uncertainty surrounding the precise operational requirements of the 2005 U.K. Gambling Act. The Channel Islands are subject to different laws and financial regulation than the mainland U.K.

    “With ever-limited time remaining to adopt the eventual requirements, the board has now concluded that its most prudent course of action is to transfer those activities that it anticipates may be covered by the Act to a jurisdiction that has a more defined regulatory environment,” Sportingbet said in a statement.

    The company will move all licensable activities from the U.K. to the Channel Islands by Sept. 1.

    Sportingbet expects to incur a 13.5 million pound ($26.6 million) charge in the year to July 31 as a result of the move.

    Sportingbet has been reorganizing the business since the passage of the Unlawful Gaming Enforcement Act forced out online gambling operators from the U.S.

    Its shares fell 3.4 percent to 64 pence ($1.26) on the London Stock Exchange.

    Related News

    • Betsoft brings back safari sam 2

      New Online Slots

      BetSoft Brings Back Safari Sam 2Ivan Stefanovic21 May 2021

      Original BetSoft slot, Safari Sam, was released in 2012. Safari Sam 2 follows the original version in 2021, and the adventure starts in the African savannah with the most famous hunter. However, a few changes have been made and now the Wild Girl has joined Sam in his quest for the mainland's wildlife. The original game's graphics are still nice and can compete with many other titles, but this sequel goes even further.

      Read full article
    • Leovegas goes live with new games studio blue guru games

      Gambling News

      LeoVegas Unveils New Game Development Studio Blue Guru GamesIvan Stefanovic08 May 2021

      LeoVegas has opened the curtain for Blue Guru Games, the group's game studio that will release its first games later this year. This is part of their strategy to further control the gaming industry's value chain, with games that will be created for LeoVegas. It is planned to release a minimum of 20 games over the next 2 years. From the very beginning, the company will have an experienced team in the game development sector.

      Read full article
    • Lucky player won 110000  with bgaming slot elvis frog in vegas

      Gambling News

      Lucky Player Wins $110,000 with BGaming’s Slot Elvis Frog: In VegasIvan Stefanovic23 April 2021

      Online video slot Elvis Frog: In Vegas was very generous with a player at Bitcoin Games on April 13. A player started by landing the giant symbol during extra spins and with activating the Coin Respin bonus, the player had the opportunity to fill all possible reels with giant symbols that offers the 1.5 BTC mega jackpot!

      Read full article